CS for CS for CS for SB's 2430 & SB 1960 First Engrossed
20092430e1
1 A bill to be entitled
2 An act relating to the taxation of documents; amending
3 s. 3, ch. 83-220, Laws of Florida, as amended;
4 extending a future repeal date of provisions
5 authorizing counties to levy a discretionary surtax on
6 documents; amending s. 125.0167, F.S.; limiting the
7 percentage of surtax revenues that may be used for
8 administrative costs; specifying a minimum amount of
9 surtax revenues to be used for housing for certain
10 low-income and moderate-income families; requiring an
11 affirmative vote of a local government governing body
12 to rehabilitate certain government-owned housing;
13 authorizing certain counties to create by ordinance a
14 housing choice assistance voucher program for the
15 purpose of down payment assistance; providing
16 definitions; providing eligibility requirements for
17 such vouchers; authorizing purchasing employers to
18 file for allocations for such vouchers; limiting
19 allocations; requiring distribution of allocations to
20 employees in the form of such vouchers; prohibiting
21 use of allocations for such vouchers if not awarded
22 within a certain period after certain documentary
23 stamps taxes are collected; requiring the Office of
24 Program Policy Analysis and Government Accountability
25 to conduct a continuing review of the discretionary
26 surtax program operated by counties; requiring reports
27 to the Legislature; providing legislative intent to
28 reverse a judicial opinion relating to the application
29 of the excise tax on documents to certain transactions
30 involving legal entities; amending s. 201.02, F.S.;
31 defining terms; imposing the tax on certain transfers
32 of a conduit entity; providing for the apportionment
33 of the consideration for an interest in a conduit
34 entity between real property interests and other
35 assets; exempting from the tax property transferred as
36 a gift to the extent there is no consideration;
37 providing for trusts; providing legislative intent;
38 providing for tax; imposing the tax on instruments,
39 and other writings on the consideration for a transfer
40 of real property pursuant to a short sale; providing
41 that the consideration subject to the tax does not
42 include unpaid indebtedness that is forgiven by a
43 mortgagee; defining the term “short sale”; authorizing
44 the Department of Revenue to adopt emergency rules
45 relating to transfers of real property interest
46 involving conduit entities and transfers of real
47 property pursuant to short sales; amending s. 201.031,
48 F.S.; expanding requirements for counties levying the
49 discretionary surtax to include housing plan,
50 affordable housing element, and annual reporting
51 requirements; amending s. 719.105, F.S.; conforming a
52 cross-reference; authorizing the issuance of Florida
53 Forever bonds; providing an appropriation for debt
54 service on such bonds; authorizing the issuance of
55 Everglades Restoration bonds; providing an
56 appropriation for debt service on such bonds;
57 providing an appropriation to the Department of
58 Environmental Protection for the design and
59 construction of certain restoration and protection
60 plans and for the acquisition of lands needed for
61 these project components; providing an appropriation
62 for the purpose of implementing agricultural nonpoint
63 source controls in certain watersheds; amending s.
64 201.15, F.S.; conforming provisions to changes made by
65 the act; providing for application of specified
66 provisions of the act; providing effective dates.
67
68 Be It Enacted by the Legislature of the State of Florida:
69
70 Section 1. Section 3 of chapter 83-220, Laws of Florida, as
71 amended by section 1 of chapter 84-270, Laws of Florida, and
72 section 1 of chapter 89-252, Laws of Florida, is amended to
73 read:
74 Section 3. Sections 1 and 2 of chapter 83-220, Laws of
75 Florida, as amended by this act, are repealed effective October
76 1, 2031 2011.
77 Section 2. Section 125.0167, Florida Statutes, is amended
78 to read:
79 125.0167 Discretionary surtax on documents; adoption;
80 application of revenue.—
81 (1) Pursuant to the provisions of s. 201.031, the governing
82 authority in each county, as defined by s. 125.011(1), is
83 authorized to levy a discretionary surtax on documents for the
84 purpose of establishing and financing a Housing Assistance Loan
85 Trust Fund to assist in the financing of construction,
86 rehabilitation, or purchase of housing for low-income and
87 moderate-income families. No less than 50 percent of the funds
88 used in each county to provide such housing assistance shall be
89 for the benefit of low-income families. For the purpose of this
90 section, “low-income family” means a family whose income does
91 not exceed 80 percent of the median income for the area, and
92 “moderate-income family” means a family whose income is in
93 excess of 80 percent but less than 140 percent of the median
94 income for the area. For purposes of this section, the term
95 “housing” is not limited to single-family, detached dwellings.
96 The rate of the surtax shall not exceed the rate of 45 cents for
97 each $100 or fractional part thereof of the consideration
98 therefor. Such surtax shall apply only to those documents
99 taxable under s. 201.02, except that there shall be no surtax on
100 any document pursuant to which the interest granted, assigned,
101 transferred, or conveyed involves only a single-family
102 residence. Such single-family residence may be a condominium
103 unit, a unit held through stock ownership or membership
104 representing a proprietary interest in a corporation owning a
105 fee or a leasehold initially in excess of 98 years, or a
106 detached dwelling.
107 (2) The levy of the discretionary surtax and the creation
108 of a Housing Assistance Loan Trust Fund shall be by ordinance
109 which shall set forth the policies and procedures of the
110 assistance program. The ordinance shall be proposed at a regular
111 meeting of the governing authority at least 2 weeks prior to
112 formal adoption. Formal adoption shall not be effective unless
113 approved on final vote by a majority of the total membership of
114 the governing authority. The ordinance shall not take effect
115 until 90 days after formal adoption.
116 (3) The county shall deposit revenues from the
117 discretionary surtax in the Housing Assistance Loan Trust Fund
118 of the county, except that a portion of such revenues may be
119 deposited into the Home Investment Trust Fund of the county as
120 defined by and created pursuant to the requirements of federal
121 law. The county shall use the revenues only to help finance the
122 construction, rehabilitation, or purchase of housing for low
123 income families and moderate-income families, to pay necessary
124 costs of collection and enforcement of the surtax, and to fund
125 any local matching contributions required pursuant to federal
126 law. For purposes of this section, authorized uses of the
127 revenues include, but are not limited to, providing funds for
128 first and second mortgages and acquiring property for the
129 purpose of forming housing cooperatives. Special consideration
130 shall be given toward using the revenues in the neighborhood
131 economic development programs of community development
132 corporations. No more than 50 percent of the revenues collected
133 each year pursuant to this section may be used to help finance
134 new construction as provided herein. The proceeds of the surtax
135 shall not be used for rent subsidies or grants.
136 (4) No more than 10 percent of surtax revenues collected
137 under this section by the Department of Revenue and remitted to
138 the county in any fiscal year may be used for administrative
139 costs.
140 (5)(a) Notwithstanding the provisions of subsection (3), of
141 the discretionary surtax revenues collected by the Department of
142 Revenue remaining after any deduction for administrative costs
143 as provided in subsection (4), no less than 35 percent shall be
144 used to provide homeownership assistance for low-income and
145 moderate-income families, and no less than 35 percent shall be
146 used for construction, rehabilitation, and purchase of rental
147 housing units. The remaining amount may be allocated to provide
148 for homeownership assistance or rental housing units, at the
149 discretion of the county. Any funds allocated for homeownership
150 assistance or rental housing units which are not committed at
151 the end of the fiscal year shall be reallocated in subsequent
152 years consistent with the provisions of this subsection, in that
153 at least 35 percent shall be reallocated to provide
154 homeownership assistance for low-income and moderate-income
155 families, and at least 35 percent shall be reallocated for
156 construction, rehabilitation, and purchase of rental housing
157 units. The remaining amount of uncommitted funds may be
158 reallocated at the discretion of the county within any of the
159 categories established in this subsection.
160 (b) For purposes of this subsection, the term
161 “homeownership assistance” means assisting low-income and
162 moderate-income families in purchasing a home as their primary
163 residence, including, but not limited to, reducing the cost of
164 the home with below-market construction financing, the amount of
165 down payment and closing costs paid by the borrower, or the
166 mortgage payment to an affordable amount for the purchaser or
167 using any other financial assistance measure set forth in s.
168 420.5088.
169 (6) Rehabilitation of housing owned by a recipient
170 government may be authorized only after a determination approved
171 by a majority of the governing body that no other sources of
172 funds are available.
173 (7)(a) The governing body of each county as defined in s.
174 125.011(1) may, by county ordinance and pursuant to procedures
175 and requirements provided by such ordinance, create a housing
176 choice assistance voucher program.
177 (b) For purposes of this subsection, the term:
178 1. “Housing choice assistance voucher” means the document
179 used to access assistance paid by the county from the
180 discretionary surtax balance in the Housing Assistance Trust
181 Fund to a prospective purchaser of a single-family residence,
182 which must be the purchaser’s homestead.
183 2. “Purchasing employer” means a business or business
184 entity that has acquired real property within the county and
185 paid the surtax due as a result of the acquisition of that
186 property pursuant to this section.
187 (c) Housing choice assistance vouchers shall be used for
188 down payment assistance for the purchase of a single-family
189 residence by low-income or moderate-income persons within the
190 county and within a 5-mile radius of the purchasing employer who
191 are:
192 1. Actively employed by the purchasing employer or by a
193 business entity directly affiliated with the purchasing
194 employer.
195 2. Prequalified for a mortgage loan by a certified lending
196 institution.
197 (d) Upon payment of the discretionary surtax pursuant to
198 this section, the purchasing employer may file for an allocation
199 for housing choice assistance vouchers from the county in an
200 amount not to exceed 50 percent of the amount of the
201 discretionary surtax paid. The purchasing employer shall
202 distribute the allocation to employees in the form of housing
203 choice assistance vouchers pursuant to rules and procedures
204 established for the program.
205 (e) Any housing choice assistance voucher allocation not
206 distributed to employees and redeemed by an employee within 1
207 year after the date the discretionary surtax is paid may not be
208 used for housing choice assistance vouchers under this
209 subsection.
210 (f) Any housing assistance paid pursuant to the housing
211 choice assistance voucher program shall be included in the
212 calculation determining the percentage of discretionary surtax
213 funds used for homeownership purposes during the year in which
214 the surtax funds for such purposes are expended.
215 (8) By June 30, 2012, and every 5 years thereafter, the
216 Office of Program Policy Analysis and Government Accountability
217 shall review the discretionary surtax program operated by
218 counties under this section and shall provide a report to the
219 President of the Senate and the Speaker of the House of
220 Representatives.
221 Section 3. (1) The Legislature finds that the Florida
222 Supreme Court opinion in Crescent Miami Center, LLC v. Florida
223 Department of Revenue, 903 So. 2d 913 (Fla. 2005), interprets s.
224 201.02, Florida Statutes, in a manner that permits tax avoidance
225 inconsistent with the intent of the Legislature at the time the
226 statute was amended in 1990.
227 (2) The Legislature finds that the opinion of the District
228 Court of Appeal for the Third District of Florida in Crescent
229 Miami Center, LLC v. Florida Department of Revenue, 857 So. 2d
230 904 (Fla. 3d D.C.A. 2003), interprets s. 201.02, Florida
231 Statutes, in a manner that prevents tax avoidance consistent
232 with the intent of the Legislature at the time the statute was
233 amended in 1990.
234 (3) The Legislature recognizes that the Supreme Court’s
235 opinion in Crescent is limited to the facts of the case and
236 accepts the court’s interpretation of s. 201.02, Florida
237 Statutes, that no consideration exists when owners of real
238 property unencumbered by a mortgage convey an interest in such
239 property to an artificial entity whose ownership is identical to
240 the ownership of the real property before conveyance. The
241 Legislature expressly rejects any application of the court’s
242 interpretation where the facts are not comparable to the facts
243 in Crescent. However, because the Supreme Court’s
244 interpretation, combined with other settled law regarding the
245 application of s. 201.02, Florida Statutes, allows for the tax
246 free transfer of ownership interests in real property from one
247 owner to another through the use of artificial entities, it is
248 the Legislature’s intent by this act to impose the documentary
249 stamp tax when the beneficial ownership of real property is
250 transferred to a new owner or owners by the use of techniques
251 that apply the Supreme Court’s decision in Crescent in
252 combination with respect to transfers of ownership of, or
253 distributions from, artificial entities.
254 Section 4. Subsection (1) of section 201.02, Florida
255 Statutes, is amended, and subsection (11) is added to that
256 section, to read:
257 201.02 Tax on deeds and other instruments relating to real
258 property or interests in real property.—
259 (1)(a) On deeds, instruments, or writings whereby any
260 lands, tenements, or other real property, or any interest
261 therein, shall be granted, assigned, transferred, or otherwise
262 conveyed to, or vested in, the purchaser or any other person by
263 his or her direction, on each $100 of the consideration therefor
264 the tax shall be 70 cents. When the full amount of the
265 consideration for the execution, assignment, transfer, or
266 conveyance is not shown in the face of such deed, instrument,
267 document, or writing, the tax shall be at the rate of 70 cents
268 for each $100 or fractional part thereof of the consideration
269 therefor. For purposes of this section, consideration includes,
270 but is not limited to, the money paid or agreed to be paid; the
271 discharge of an obligation; and the amount of any mortgage,
272 purchase money mortgage lien, or other encumbrance, whether or
273 not the underlying indebtedness is assumed. If the consideration
274 paid or given in exchange for real property or any interest
275 therein includes property other than money, it is presumed that
276 the consideration is equal to the fair market value of the real
277 property or interest therein.
278 (b)1. For purposes of this paragraph the term:
279 a. “Conduit entity” means a legal entity to which real
280 property is conveyed without full consideration by a grantor who
281 owns an interest in the entity, or a successor entity.
282 b. “Full consideration” means the consideration that would
283 be paid in an arm’s length transaction between unrelated
284 parties.
285 2. When an ownership interest in real property is conveyed
286 to a conduit entity and an ownership interest in the conduit
287 entity is subsequently transferred for consideration within 3
288 years of such conveyance, tax is imposed each time an interest
289 in the conduit entity is transferred for consideration at the
290 rate of 70 cents for each $100 or fraction thereof of the
291 consideration paid or given in exchange for the ownership
292 interest in the conduit entity.
293 3. When the ownership interest in the conduit entity being
294 transferred includes assets other than the real property
295 conveyed to the conduit entity, the tax on the transfer of the
296 ownership interests in the conduit entity shall be prorated
297 based on the percentage the value of such real property
298 represents of the total value of all assets owned by the conduit
299 entity.
300 4. The gift of an ownership interest in a conduit entity is
301 not subject to tax to the extent there is no consideration. If
302 the real property is transferred as a gift and is encumbered by
303 a mortgage, tax is due on the amount due on the mortgage.
304 5. The transfer for purposes of estate planning by a
305 natural person of an interest in a conduit entity to an
306 irrevocable grantor trust pursuant to subpart e, of Part 1, of
307 Subchapter J, of Chapter 1, of the United States Revenue Code is
308 not subject to tax under this subsection.
309 6. The purpose of this paragraph is to impose the
310 documentary stamp tax on the transfer for consideration of a
311 beneficial interest in real property. The provisions of this
312 paragraph are to be construed liberally to effectuate this
313 purpose.
314 (c) Conversion or merger of a trust that is not a legal
315 entity that owns real property in this state into a legal entity
316 shall be treated as a conveyance of the real property for the
317 purposes of this section.
318 (d) Taxes imposed by this subsection shall be paid pursuant
319 to s. 201.133 when no document is recorded. If a document is
320 recorded, taxes imposed by the paragraph shall be paid as
321 required for all other taxable documents that are recorded.
322 (11) The documentary stamp tax imposed by this section
323 applies to a deed, instrument, or writing that transfers any
324 interest in real property pursuant to a short sale, as defined
325 in this subsection. The taxable consideration for a short sale
326 transfer does not include unpaid indebtedness that is forgiven
327 or released by a mortgagee holding a mortgage on the grantor’s
328 interest in the property. A short sale is a purchase and sale of
329 real property in which:
330 (a) The grantor’s interest in the real property is
331 encumbered by a mortgage or mortgages securing indebtedness in
332 an aggregate amount greater than the purchase price paid by the
333 grantee;
334 (b) A mortgagee releases the real property from its
335 mortgage in exchange for a partial payment of less than all of
336 the outstanding mortgage indebtedness owing to the releasing
337 mortgagee;
338 (c) The releasing mortgagee does not receive, directly or
339 indirectly, any interest in the property transferred; and
340 (d) The releasing mortgagee, grantor, and grantee are
341 dealing with each other at arm’s length.
342 Section 5. The amendments to subsections (1) and (11) of s.
343 201.02, Florida Statutes, made by this act and the provisions of
344 section 3 of this act are intended to be clarifying and remedial
345 in nature, but do not provide a basis for assessments of tax, or
346 refunds of tax, for periods before July 1, 2009.
347 Section 6. Effective upon this act becoming a law, the
348 Department of Revenue is authorized, and all conditions are
349 deemed met, to adopt emergency rules pursuant to ss. 120.536(1)
350 and 120.54(4), Florida Statutes, to implement s. 201.02, Florida
351 Statutes, as amended by section 4 of this act. Notwithstanding
352 any other provision of law, such emergency rules shall remain
353 effective for 6 months after the date of adoption and may be
354 renewed during the pendency of procedures to adopt rules
355 addressing the subject of the emergency rules.
356 Section 7. Section 201.031, Florida Statutes, is amended to
357 read:
358 201.031 Discretionary surtax; administration and
359 collection; Housing Assistance Loan Trust Fund; reporting
360 requirements.—
361 (1) Each county, as defined by s. 125.011(1), may levy,
362 subject to the provisions of s. 125.0167, a discretionary surtax
363 on documents taxable under the provisions of s. 201.02, except
364 that there shall be no surtax on any document pursuant to which
365 the interest granted, assigned, transferred, or conveyed
366 involves only a single-family residence. The Such single-family
367 residence may be a condominium unit, a unit held through stock
368 ownership or membership representing a proprietary interest in a
369 corporation owning a fee or a leasehold initially in excess of
370 98 years, or a detached dwelling.
371 (2) All provisions of chapter 201, except s. 201.15, shall
372 apply to the surtax. The Department of Revenue shall pay to the
373 governing authority of the county which levies the surtax all
374 taxes, penalties, and interest collected under this section less
375 any costs of administration.
376 (3) Each county that which levies the surtax shall:
377 (a) Include in the financial report required under s.
378 218.32 information showing the revenues and the expenses of the
379 trust fund for the fiscal year.
380 (b) Adopt a housing plan every 3 years which includes
381 provisions substantially similar to the plans required in s.
382 420.9075(1).
383 (c) Have adopted an affordable housing element of its
384 comprehensive land use plan which complies with s.
385 163.3177(6)(f).
386 (d) Require by resolution that the staff or entity that has
387 administrative authority for implementing the housing plan
388 prepare and submit to the county’s governing body an annual
389 report substantially similar to the annual report required in s.
390 420.9075(10).
391 Section 8. Paragraph (a) of subsection (1) of section
392 719.105, Florida Statutes, is amended to read:
393 719.105 Cooperative parcels; appurtenances; possession and
394 enjoyment.—
395 (1) Each cooperative parcel has, as appurtenances thereto:
396 (a) Evidence of membership, ownership of shares, or other
397 interest in the association with the full voting rights
398 appertaining thereto. Such evidence must include a legal
399 description of each dwelling unit and must be recorded in the
400 office of the clerk of the circuit court as required by s.
401 201.02(4) s. 201.02(3).
402 Section 9. Pursuant to s. 201.15(1)(a), Florida Statutes,
403 the issuance of $50 million of Florida Forever bonds is
404 authorized, in addition to any previously authorized bonds. For
405 the 2009-2010 fiscal year, the sum of $3,502,005 is appropriated
406 from the Land Acquisition Trust Fund to the Department of
407 Environmental Protection for debt service on the new bonds. The
408 proceeds of such bonds shall be distributed in accordance with
409 s. 259.105(3), Florida Statutes. The Department of Environmental
410 Protection and the agencies receiving such bond proceeds are
411 appropriated budget authority necessary to transfer and expend
412 the respective amounts of the distributed bond proceeds.
413 Section 10. (1) Pursuant to s. 215.619(1), Florida
414 Statutes, the issuance of $50 million of Everglades Restoration
415 bonds is authorized, in addition to any previously authorized
416 bonds. For the 2009-2010 fiscal year, the sum of $4,991,600 is
417 appropriated from the Save Our Everglades Trust Fund to the
418 Department of Environmental Protection for debt service on the
419 new bonds.
420 (2) The sum of $47 million is appropriated from the Save
421 Our Everglades Trust Fund to the Department of Environmental
422 Protection for the design and construction of Comprehensive
423 Everglades Restoration Plan components, Lake Okeechobee
424 Protection Plan components, and Caloosahatchee and St. Lucie
425 River Watershed Protection Plan components, and for the
426 acquisition of lands needed for these project components. The
427 sum of $3 million is appropriated from the Save Our Everglades
428 Trust Fund to the Department of Environmental Protection for
429 transfer to the Department of Agriculture and Consumer Services
430 into the General Inspection Trust Fund to fund activities
431 authorized in subsection (3).
432 (3) The sum of $3 million is appropriated from the General
433 Inspections Trust Fund to the Department of Agriculture and
434 Consumer Services for the purpose of implementing agricultural
435 nonpoint source controls in the Okeechobee, Caloosahatchee, and
436 St. Lucie River watersheds.
437 Section 11. Section 201.15, Florida Statutes, as amended by
438 section 1 of chapter 2009-17, Laws of Florida, is amended to
439 read:
440 201.15 Distribution of taxes collected.—All taxes collected
441 under this chapter are subject to the service charge imposed in
442 s. 215.20(1). Prior to distribution under this section, the
443 Department of Revenue shall deduct amounts necessary to pay the
444 costs of the collection and enforcement of the tax levied by
445 this chapter. Such costs and the service charge may not be
446 levied against any portion of taxes pledged to debt service on
447 bonds to the extent that the costs and service charge are
448 required to pay any amounts relating to the bonds. After
449 distributions are made pursuant to subsection (1), all of the
450 costs of the collection and enforcement of the tax levied by
451 this chapter and the service charge shall be available and
452 transferred to the extent necessary to pay debt service and any
453 other amounts payable with respect to bonds authorized before
454 January 1, 2010, secured by revenues distributed pursuant to
455 subsection (1). All taxes remaining after deduction of costs and
456 the service charge shall be distributed as follows:
457 (1) Sixty-three and thirty-one hundredths percent of the
458 remaining taxes collected under this chapter shall be used for
459 the following purposes:
460 (a) Amounts necessary to pay the debt service on, or fund
461 debt service reserve funds, rebate obligations, or other amounts
462 payable with respect to Preservation 2000 bonds issued pursuant
463 to s. 375.051 and Florida Forever bonds issued pursuant to s.
464 215.618, shall be paid into the State Treasury to the credit of
465 the Land Acquisition Trust Fund to be used for such purposes.
466 The amount transferred to the Land Acquisition Trust Fund may
467 not exceed $300 million in fiscal year 1999-2000 and thereafter
468 for Preservation 2000 bonds and bonds issued to refund
469 Preservation 2000 bonds, and $300 million in fiscal year 2000
470 2001 and thereafter for Florida Forever bonds. The annual amount
471 transferred to the Land Acquisition Trust Fund for Florida
472 Forever bonds may not exceed $30 million in the first fiscal
473 year in which bonds are issued. The limitation on the amount
474 transferred shall be increased by an additional $30 million in
475 each subsequent fiscal year, but may not exceed a total of $300
476 million in any fiscal year for all bonds issued. It is the
477 intent of the Legislature that all bonds issued to fund the
478 Florida Forever Act be retired by December 31, 2040. Except for
479 bonds issued to refund previously issued bonds, no series of
480 bonds may be issued pursuant to this paragraph unless such bonds
481 are approved and the debt service for the remainder of the
482 fiscal year in which the bonds are issued is specifically
483 appropriated in the General Appropriations Act. For purposes of
484 refunding Preservation 2000 bonds, amounts designated within
485 this section for Preservation 2000 and Florida Forever bonds may
486 be transferred between the two programs to the extent provided
487 for in the documents authorizing the issuance of the bonds. The
488 Preservation 2000 bonds and Florida Forever bonds shall be
489 equally and ratably secured by moneys distributable to the Land
490 Acquisition Trust Fund pursuant to this section, except to the
491 extent specifically provided otherwise by the documents
492 authorizing the issuance of the bonds. No moneys transferred to
493 the Land Acquisition Trust Fund pursuant to this paragraph, or
494 earnings thereon, shall be used or made available to pay debt
495 service on the Save Our Coast revenue bonds.
496 (b) Moneys shall be paid into the State Treasury to the
497 credit of the Save Our Everglades Trust Fund in amounts
498 necessary to pay debt service, provide reserves, and pay rebate
499 obligations and other amounts due with respect to bonds issued
500 under s. 215.619. Taxes distributed under paragraph (a) and this
501 paragraph must be collectively distributed on a pro rata basis
502 when the available moneys under this subsection are not
503 sufficient to cover the amounts required under paragraph (a) and
504 this paragraph.
505 (c) The remainder of the moneys distributed under this
506 subsection, after the required payments under paragraphs (a) and
507 (b), shall be paid into the State Treasury to the credit of:
508 1. The State Transportation Trust Fund in the Department of
509 Transportation in the amount of the lesser of 38.2 percent of
510 the remainder or $541.75 million in each fiscal year, to be used
511 for the following specified purposes, notwithstanding any other
512 law to the contrary:
513 a. For the purposes of capital funding for the New Starts
514 Transit Program, authorized by Title 49, U.S.C. s. 5309 and
515 specified in s. 341.051, 10 percent of these funds;
516 b. For the purposes of the Small County Outreach Program
517 specified in s. 339.2818, 5 percent of these funds;
518 c. For the purposes of the Strategic Intermodal System
519 specified in ss. 339.61, 339.62, 339.63, and 339.64, 75 percent
520 of these funds after allocating for the New Starts Transit
521 Program described in sub-subparagraph a. and the Small County
522 Outreach Program described in sub-subparagraph b.; and
523 d. For the purposes of the Transportation Regional
524 Incentive Program specified in s. 339.2819, 25 percent of these
525 funds after allocating for the New Starts Transit Program
526 described in sub-subparagraph a. and the Small County Outreach
527 Program described in sub-subparagraph b.
528 2. The Water Protection and Sustainability Program Trust
529 Fund in the Department of Environmental Protection in the amount
530 of the lesser of 5.64 percent of the remainder or $80 million in
531 each fiscal year, to be used as required by s. 403.890.
532 3. The Grants and Donations Trust Fund in the Department of
533 Community Affairs in the amount of the lesser of .23 percent of
534 the remainder or $3.25 million in each fiscal year, with 92
535 percent to be used to fund technical assistance to local
536 governments and school boards on the requirements and
537 implementation of this act and the remaining amount to be used
538 to fund the Century Commission established in s. 163.3247.
539 4. The Ecosystem Management and Restoration Trust Fund in
540 the amount of the lesser of 2.12 percent of the remainder or $30
541 million in each fiscal year, to be used for the preservation and
542 repair of the state’s beaches as provided in ss. 161.091
543 161.212.
544 5. The Marine Resources Conservation Trust Fund in the
545 amount of the lesser of .14 percent of the remainder or $2
546 million in each fiscal year, to be used for marine mammal care
547 as provided in s. 379.208(3).
548 6. General Inspection Trust Fund in the amount of the
549 lesser of .02 percent of the remainder or $300,000 in each
550 fiscal year to be used to fund oyster management and restoration
551 programs as provided in s. 379.362(3).
552
553 Moneys distributed pursuant to this paragraph may not be pledged
554 for debt service unless such pledge is approved by referendum of
555 the voters.
556 (d) The remainder of the moneys distributed under this
557 subsection, after the required payments under paragraphs (a),
558 (b), and (c), shall be paid into the State Treasury to the
559 credit of the General Revenue Fund to be used and expended for
560 the purposes for which the General Revenue Fund was created and
561 exists by law.
562 (2) The lesser of 7.56 percent of the remaining taxes
563 collected under this chapter or $84.9 million in each fiscal
564 year shall be paid into the State Treasury to the credit of the
565 Land Acquisition Trust Fund. Sums deposited in the fund pursuant
566 to this subsection may be used for any purpose for which funds
567 deposited in the Land Acquisition Trust Fund may lawfully be
568 used.
569 (3)(a) Through the 2008-2009 fiscal year, the lesser of
570 1.94 percent of the remaining taxes collected under this chapter
571 or $26 million in each fiscal year shall be paid into the State
572 Treasury to the credit of the Land Acquisition Trust Fund.
573 (b) Beginning with the 2009-2010 fiscal year, the lesser of
574 1.94 percent of the remaining taxes collected under this chapter
575 or $26 million in each fiscal year shall be distributed in the
576 following order:
577 1. Amounts necessary to pay debt service or to fund debt
578 service reserve funds, rebate obligations, or other amounts
579 payable with respect to bonds issued before February 1, 2009,
580 pursuant to this subsection shall be paid into the State
581 Treasury to the credit of the Land Acquisition Trust Fund.
582 2. Eleven million dollars shall be paid into the State
583 Treasury to the credit of the General Revenue Fund.
584 3. The remainder shall be paid into the State Treasury to
585 the credit of the Land Acquisition Trust Fund.
586 (c) Moneys deposited in the Land Acquisition Trust Fund
587 pursuant to this subsection shall be used to acquire coastal
588 lands or to pay debt service on bonds issued to acquire coastal
589 lands and to develop and manage lands acquired with moneys from
590 the trust fund.
591 (4) The lesser of 4.2 percent of the remaining taxes
592 collected under this chapter or $60.5 million in each fiscal
593 year shall be paid into the State Treasury to the credit of the
594 Water Management Lands Trust Fund. Sums deposited in that fund
595 may be used for any purpose authorized in s. 373.59.
596 (5)(a) For the 2007-2008 fiscal year, 3.96 percent of the
597 remaining taxes collected under this chapter shall be paid into
598 the State Treasury to the credit of the Conservation and
599 Recreation Lands Trust Fund to carry out the purposes set forth
600 in s. 259.032. Ten and five-hundredths percent of the amount
601 credited to the Conservation and Recreation Lands Trust Fund
602 pursuant to this subsection shall be transferred to the State
603 Game Trust Fund and used for land management activities.
604 (b) Beginning July 1, 2008, 3.52 percent of the remaining
605 taxes collected under this chapter shall be paid into the State
606 Treasury to the credit of the Conservation and Recreation Lands
607 Trust Fund to carry out the purposes set forth in s. 259.032.
608 Eleven and fifteen hundredths percent of the amount credited to
609 the Conservation and Recreation Lands Trust Fund pursuant to
610 this subsection shall be transferred to the State Game Trust
611 Fund and used for land management activities.
612 (6) The lesser of 2.28 percent of the remaining taxes
613 collected under this chapter or $34.1 million in each fiscal
614 year shall be paid into the State Treasury to the credit of the
615 Invasive Plant Control Trust Fund to carry out the purposes set
616 forth in ss. 369.22 and 369.252.
617 (7) The lesser of .5 percent of the remaining taxes
618 collected under this chapter or $9.3 million in each fiscal year
619 shall be paid into the State Treasury to the credit of the State
620 Game Trust Fund to be used exclusively for the purpose of
621 implementing the Lake Restoration 2020 Program.
622 (8) One-half of one percent of the remaining taxes
623 collected under this chapter shall be paid into the State
624 Treasury and divided equally to the credit of the Department of
625 Environmental Protection Water Quality Assurance Trust Fund to
626 address water quality impacts associated with nonagricultural
627 nonpoint sources and to the credit of the Department of
628 Agriculture and Consumer Services General Inspection Trust Fund
629 to address water quality impacts associated with agricultural
630 nonpoint sources, respectively. These funds shall be used for
631 research, development, demonstration, and implementation of
632 suitable best management practices or other measures used to
633 achieve water quality standards in surface waters and water
634 segments identified pursuant to ss. 303(d) of the Clean Water
635 Act, Pub. L. No. 92-500, 33 U.S.C. ss. 1251 et seq.
636 Implementation of best management practices and other measures
637 may include cost-share grants, technical assistance,
638 implementation tracking, and conservation leases or other
639 agreements for water quality improvement. The Department of
640 Environmental Protection and the Department of Agriculture and
641 Consumer Services may adopt rules governing the distribution of
642 funds for implementation of best management practices. The
643 unobligated balance of funds received from the distribution of
644 taxes collected under this chapter to address water quality
645 impacts associated with nonagricultural nonpoint sources will be
646 excluded when calculating the unobligated balance of the Water
647 Quality Assurance Trust Fund as it relates to the determination
648 of the applicable excise tax rate.
649 (9) The lesser of 7.53 percent of the remaining taxes
650 collected under this chapter or $107 million in each fiscal year
651 shall be paid into the State Treasury to the credit of the State
652 Housing Trust Fund and shall be used as follows:
653 (a) Half of that amount shall be used for the purposes for
654 which the State Housing Trust Fund was created and exists by
655 law.
656 (b) Half of that amount shall be paid into the State
657 Treasury to the credit of the Local Government Housing Trust
658 Fund and shall be used for the purposes for which the Local
659 Government Housing Trust Fund was created and exists by law.
660 (10) The lesser of 8.66 percent of the remaining taxes
661 collected under this chapter or $136 million in each fiscal year
662 shall be paid into the State Treasury to the credit of the State
663 Housing Trust Fund and shall be used as follows:
664 (a) Twelve and one-half percent of that amount shall be
665 deposited into the State Housing Trust Fund and be expended by
666 the Department of Community Affairs and by the Florida Housing
667 Finance Corporation for the purposes for which the State Housing
668 Trust Fund was created and exists by law.
669 (b) Eighty-seven and one-half percent of that amount shall
670 be distributed to the Local Government Housing Trust Fund and
671 shall be used for the purposes for which the Local Government
672 Housing Trust Fund was created and exists by law. Funds from
673 this category may also be used to provide for state and local
674 services to assist the homeless.
675 (11) The distribution of proceeds deposited into the Water
676 Management Lands Trust Fund and the Conservation and Recreation
677 Lands Trust Fund, pursuant to subsections (4) and (5), may not
678 be used for land acquisition but may be used for preacquisition
679 costs associated with land purchases. The Legislature intends
680 that the Florida Forever program supplant the acquisition
681 programs formerly authorized under ss. 259.032 and 373.59.
682 (12) Amounts distributed pursuant to subsections (5), (6),
683 (7), and (8) are subject to the payment of debt service on
684 outstanding Conservation and Recreation Lands revenue bonds.
685 (13) Beginning July 1, 2008, in each fiscal year that the
686 remaining taxes collected under this chapter exceed collections
687 in the prior fiscal year, the stated maximum dollar amounts
688 provided in subsections (2), (4), (6), (7), (9), and (10) shall
689 each be increased by an amount equal to 10 percent of the
690 increase in the remaining taxes collected under this chapter
691 multiplied by the applicable percentage provided in those
692 subsections.
693 (14) If the payment requirements in any year for bonds
694 outstanding on July 1, 2007, or bonds issued to refund such
695 bonds, exceed the limitations of this section, distributions to
696 the trust fund from which the bond payments are made shall be
697 increased to the lesser of the amount needed to pay bond
698 obligations or the limit of the applicable percentage
699 distribution provided in subsections (1)-(10).
700 (15) Distributions to the State Housing Trust Fund pursuant
701 to subsections (9) and (10) shall be sufficient to cover amounts
702 required to be transferred to the Florida Affordable Housing
703 Guarantee Program’s annual debt service reserve and guarantee
704 fund pursuant to s. 420.5092(6)(a) and (b) up to but not
705 exceeding the amount required to be transferred to such reserve
706 and fund based on the percentage distribution of documentary
707 stamp tax revenues to the State Housing Trust Fund which is in
708 effect in the 2004-2005 fiscal year.
709 (16) If amounts necessary to pay debt service or any other
710 amounts payable with respect to Preservation 2000 bonds, Florida
711 Forever bonds, or Everglades Restoration bonds authorized before
712 January 1, 2010, exceed the amounts distributable pursuant to
713 subsection (1), all moneys distributable pursuant to this
714 section are available for such obligations and transferred in
715 the amounts necessary to pay such obligations when due. However,
716 amounts distributable pursuant to subsection (2), subsection
717 (3), subsection (4), subsection (5), paragraph (9)(a), or
718 paragraph (10)(a) are not available to pay such obligations to
719 the extent that such moneys are necessary to pay debt service on
720 bonds secured by revenues pursuant to those provisions.
721 (17)(16) The remaining taxes collected under this chapter,
722 after the distributions provided in the preceding subsections,
723 shall be paid into the State Treasury to the credit of the
724 General Revenue Fund.
725 Section 12. Except as otherwise expressly provided in this
726 act and except for this section, which shall take effect upon
727 becoming law, this act shall take effect on July 1, 2009, and
728 the amendment to s. 201.02(1), Florida Statutes, made by this
729 act, applies to transfers for which the first transfer to a
730 conduit entity occurs after July 1, 2009.